#比特币 Bitcoin has been fluctuating around 105,000, with a 1000-point range, and there is currently no obvious continuation of direction in the small to medium term. After a continuous decline for 4 days at the end of last month, there has not been a consecutive rebound. The current price is still at the support position guided by the bullish MA30 on the daily line. It is also supported above the horizontal step position of 103,000 from mid-May.
The medal judgment indicates that the price is staying here because there is a certain reliability in this generation of chips. After a drop from the top of 110,000 USD, there is a buying sentiment for bottom hunting. Therefore, the selling pressure will utilize this support for slight selling to stabilize the price. Once the bullish buying energy is exhausted, and the price breaks this support area, panic will form in the market, making the buying capacity worse, and the selling pressure will not be able to get a good price. Thus, consuming the selling pressure in this area and using support and buying sentiment to obtain a good selling price is the main factor we see for the price's inability to rise.
From the performance of the short cycle, the current K-line is still hanging below the 4-hour descending channel, continuing the short-term bearish retracement trend. At present, the medal's view is still that as long as the price has not broken through 107,000 and the four-hour downward channel situation remains, we will continue to see further downward adjustments and bearish views, with an increased probability of the price challenging the support at the 10 USD level.
In terms of everyone's participation in the market, we can continue to operate with short positions after the rebound. For those who entered short positions based on the BTC short strategy above 105800 previously provided, you can continue to look towards the target area.
